Players of the board game Monopoly are accustomed to collecting £200 for passing “Go”, but the Taiwanese government is planning to hand out a similar amount to each citizen after collecting more tax revenue than expected last year.
Each of the island’s 23 million citizens will receive a one-time cash payment worth 6,000 Taiwanese dollars (£162) in order to “share the country’s economic achievements with all citizens, young and old”, Su Tseng-chang, Taiwan’s premier, announced yesterday.
Taiwan’s economy, which is a powerhouse for technology such as semiconductor chips, grew 6.45 per cent in 2021, the fastest rate since it expanded by 10.25 per cent in 2010, as demand continued for consumer electronics.
Su said the government would keep T$40 billion of the T$180 billion in surplus tax revenue raised in reserve but distribute the remainder back to the people. The proposed payments would be made after the Chinese New Year holiday this month, but would require parliamentary approval.
